Both outbound and inbound investment grew in Guangzhou in 2016, according to statistics released at an investment seminar in the Guangdong capital on April 12. 

Guangzhou's outbound investment hit 36.21 billion yuan ($5.28 billion) last year, with $2.23 billion in foreign direct investment (FDI), year-on-year increases of 10.7 and 58 percent respectively. 

The statistics were released by the Guangzhou Municipal Commission of Commerce and Hong Kong Economic and Trade Office in Guangdong. 

The seminar aimed to provide training for companies taking part in outbound investment, as well as promote the "going out" strategy put forward by China's central government to encourage domestic enterprises to invest overseas. 

As a hub city for China's opening up and the Belt and Road Initiative, Guangzhou has been leading the way for "going out", establishing trade ties with countries in South and Central Asia, the Middle East, North America and Europe, as well as countries along the Belt and Road.

According to Guangzhou Municipal Commission of Commerce, Guangzhou invested in 263 businesses overseas in 2016, a 4.4 percent year-on-year increase, making the total number 1,208 in 80 outbound countries and regions.

Investors and private businesses have become the main source of Guangzhou's outbound investment, while the distribution, manufacturing and service industries have emerged as counterweights to the retail industry.

More than 200 representatives from companies vying for overseas businesses, along with government officials, scholars and business giants from Guangzhou and Hong Kong attended the seminar.